Ark Invest Sells $6M in Coinbase and Bitcoin Trust Shares Despite Bitcoin Rally
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Ark Invest, led by Cathie Wood, sold nearly $6 million in Coinbase and Grayscale Bitcoin Trust shares on Monday as Bitcoin surged past $34,000.
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The sales included over $3 million in Coinbase stock and $2.5 million in GBTC shares.
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The sales came as Bitcoin hit 2023 highs and GBTC surged on news that the SEC must revisit its spot Bitcoin ETF rejection.
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Ark Invest is the 2nd largest GBTC shareholder with over $130 million in the trust.
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Ark Invest has long been bullish on Bitcoin, with Wood previously predicting a $1 million price target.